The Network for Consumer Protection has called upon the government to finalise the e-commerce policy to ensure building of fairer digital marketplaces that consumers can trust.
The demand came on the occasion of World Consumer Rights Day, which is being celebrated by The Network in collaboration with Consumers International, an umbrella body of over 200 member organisations in more than 100 countries, on March 15.
The observation aims to create a Better Digital World by promoting access to fair and secure internet services, action against scams and frauds, and better online protection.
E-commerce has transformed the way people shop, giving consumers more choices than ever before. But it has also raised global issues. In 2017, global e-commerce sales reached $2.29 trillion, and by 2021, it is expected to reach $4.49 trillion; however, nearly 70% of the consumers worry their digital payments are unsafe. Meanwhile, half the world’s population are still offline. As part of the campaign, The Network has drawn attention of Minister for Commerce Muhammad Pervaiz Malik towards finalization and implementation of the E-commerce Policy in Pakistan. Prime Minister Shahid Khaqan Abbassi, has already directed the concerned authorities to finalize policy framework for providing maximum facilitation and promoting business through e-commerce.
Nadeem Iqbal, CEO of The Network, said the size of the e-commerce market in Pakistan is rapidly growing; it currently stands at around Rs65 billion or $620 million, and is expected to reach $1 billion by 2020. “With such a growing market size, there is an urgent need of putting an e-commerce policy in place in order to develop supportive financial services regulations, provide import and export regulations, establish and regulate e-commerce establishments. A consumer perspective should also be added in the policy framework as it is more important to gain trust in e-commerce as compared to conventional business,” he added.
Pakistan's Internet penetration rate has skyrocketed from 1 million users across the nation in 2000 to around 30 million users today, and is expected to rise up to 56 million users by 2019. Over the next 5 years, 28 percent of the country’s population is estimated to have Internet access. With increased access to the Internet and social media sites such as Twitter and Facebook, marketing trends are also rapidly transforming the way opinions are being shaped. This will not only transform shopping trends but also significantly impact several other ecommerce arenas, such as online job hunt, online cab services, to name a few.
Strong, safe and secure Internet access is also essential to be able to shop online with confidence. That is why on World Consumer Rights Day, many consumer organizations will be calling for better access to the Internet.
Half of the people with Internet access choose not to shop online because of a lack of trust. A major contributor to this lack of consumer trust is the fear of incurring unexpected and dishonest costs. These can arise from illegal and fraudulent scams or from unfair, unclear and confusing business practices. These barriers and fears constitute a significant impediment for further development of the digital economy: when consumers mistrust businesses, they are discouraged from using new digital products and services. To address this lack of trust, it is vital authorities take action to prevent scams and companies have clear terms and conditions, fair pricing and good redress procedures because growth on the supply-side of the digital market presupposes consumer trust on the demand-side of the market. Only when consumers will have trust will e-commerce truly deliver to its true potential.
Source: https://www.thenews.com.pk/print/292563-finalisation-of-e-commerce-policy-demanded